If you have a good relationship with your vendors you may be able to negotiate a partial or future payment agreement with them. However, if you don’t want to jeopardize your vendor relationships, you can try selling or leasing some of your assets.

If selling off assets is not a viable option, you can try to take out a line of credit or a working capital loan.

Most banks will take weeks or months to approve a line of credit or loan. If you don’t already have one when your need arises, getting one in time from the bank likely won’t be an option.

However, here at ARF Financial we work with a network of banks on your behalf to get your application approved within 7 to 10 business days. A working capital loan or line of credit obtained through ARF Financial requires no collateral for amounts up to $725,000.

You’ll notice we didn’t even include a merchant cash advance as an option in our list. This is because a merchant cash advance may provide a short-term fix but will hurt your cash flow in the long-term.

When you take out a cash advance, the company typically purchases a fixed amount of your future credit card sales at a discounted rate of about 38%. The advance is paid back from a percentage of your daily credit card receipts until the full amount is paid back. The higher your sales, the quicker the advance is paid back. APRs can range from 50% up to 200%.

This is an option of last resort!

If you’re currently facing a shortfall in cash flow, or you want to be prepared in case you face one in the future, apply for a line of credit today!